Hi all, newbie to the forums here. 
I've been in Crypto for four years, but I've recently seen the light on BTC.
(wish it had been sooner!)
Anyhow, here's my dilema: I've been slowly accumulating Satoshis this year, and I also bought a cold storage wallet recently. I tried today to move a small amount of BTC to the wallet as a "test" transaction to insure it went to the designated wallet, but the fee was a lot of money in my opinion.
Should I just send everything and hope it gets there?
Or wait until the fees go down (will they go down? I'm using CDC as the custodial exchange atm.)
Normally, I always do a test transfer on new wallets, but the fee is almost the same amount I bought this week!..
Any thoughts?
Thanks in advance for your thoughts & ideas...
The transaction fee at the moment is one of the best we have seen in recent times. If you have been around during the time that the mempool was congested due to the Ordinal attack, you would have been happy seeing the fee as lows as it is now. So, I wouldn't want you to continue waiting and hoping that the fee will come down because it is already down. I've been in Crypto for four years, but I've recently seen the light on BTC.
(wish it had been sooner!)
Anyhow, here's my dilema: I've been slowly accumulating Satoshis this year, and I also bought a cold storage wallet recently. I tried today to move a small amount of BTC to the wallet as a "test" transaction to insure it went to the designated wallet, but the fee was a lot of money in my opinion.
Should I just send everything and hope it gets there?
Or wait until the fees go down (will they go down? I'm using CDC as the custodial exchange atm.)
Normally, I always do a test transfer on new wallets, but the fee is almost the same amount I bought this week!..
Any thoughts?
Thanks in advance for your thoughts & ideas...
Since it is the first transaction to the wallet, I think it is better you send small amount to test if everything work smoothly before you send the rest BTC. This will save you the pain of realising you made a mistake in any of the stages. If you are using CEX to collect your Bitcoin, you can withdraw monthly or thereabout instead of regularly, this will help you reduce the fees.